US Small business optimism has reached its highest level since 1983, according to the National Federation of Independent Business. With recent tax cuts and a strong economy, many businesses are planning to expand operations and hire more employees over the next year.
According to the Washington Post, some of the key takeaways from the survey included “almost all of the 10 index components, including inventory plans and sales expectations, increased or held steady in February, propelling the gauge to its second-highest level since the survey began in 1973. Amid tax cuts and deregulation enacted by the Trump administration, businesses cited improved profit trends at the best level since 1987.”
Despite the positive feeling for small businesses, finding qualified employees is still a major challenge. “About 15 percent said they’re using temporary workers, the highest level since November 2016.” America’s biggest weakness, that of a growing skills gap seems to be continuing with no answer in sight. New immigration policies should be on the horizon if this continues which would allow for more talent to arrive in the country.